AN2 Therapeutics, Inc. ANTX

Healthcare SIC 2834 - Pharmaceutical Preparations NAICS Manufacturing › Chemical Manufacturing › Pharmaceutical and Medicine Manufacturing › Pharmaceutical Preparation Manufacturing derived Nasdaq

All brand names or trademarks appearing in this report are the property of their respective owners. Unless the context requires otherwise, references in this report to "AN2," "we," "our," the "Company" or the "Registrant" refer to AN2 Therapeutics.

We are a clinical stage biopharmaceutical company focused on the discovery and development of novel small-molecule therapeutics derived from our boron chemistry platform. Our development pipeline spans hematologic diseases, infectious diseases, and oncology with three Phase 2 studies expected to initiate in 2026, two preclinical candidates, as well as advanced research programs focused on targets in oncology, bone disorders, and infectious diseases. We are committed to delivering high-impact drugs to patients that address critical unmet needs and improve health outcomes.

Last close 5.89 2026-09-04
Market cap $222.3M 2026-06-30 share count
52-week range 1.00 - 7.19

Valuation FY2025 figures against the last close

P/S—
P/E—
P/FCF—
EV/EBITDA—
Dividend yield—
Diluted EPS-1.16

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020
R&D $24.8M$40.5M$54.9M$28.5M$16.2M—
SG&A $13.3M$14.1M$14.8M$12.8M$4.7M—
Total operating expenses $38.1M$56.8M$69.6M$42.3M$21.6M—
Operating income -$38.1M-$56.8M-$69.6M-$42.3M-$21.6M—
Pre-tax income -$35.2M-$51.3M-$64.7M-$41.0M-$21.5M—
Income tax $0$0$0$0$0—
Net income -$35.2M-$51.3M-$64.7M-$41.0M-$21.5M—
EPS, basic -1.16-1.72-2.74-2.79-10.64—
EPS, diluted -1.16-1.72-2.74-2.79-10.64—
Shares, diluted (wtd. avg.) 30.2M29.8M23.6M15.3M2.6M—

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020
Cash and equivalents $19.9M$21.4M$15.6M$27.2M$12.1M$4.1M
Short-term investments $38.1M$62.3M$91.6M$68.8M$46.5M—
Total current assets $59.9M$86.3M$110.5M$98.6M$60.1M—
Total assets $62.0M$92.1M$138.7M$102.6M$65.3M—
Accounts payable $3.0M$3.3M$2.7M$2.1M$1.1M—
Total current liabilities $8.7M$10.2M$14.0M$7.2M$3.4M—
Total liabilities $8.9M$10.2M$14.0M$7.2M$3.4M—
Retained earnings -$240.9M-$205.8M-$154.5M-$89.7M-$47.4M—
Total equity $53.1M$81.8M$124.7M$95.4M-$47.4M-$20.3M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020
Operating cash flow -$29.8M-$49.3M-$53.3M-$33.5M-$20.5M—
Stock-based compensation $6.2M$8.3M$8.4M$4.4M$974.0K—
Investing cash flow $28.3M$54.6M-$43.3M-$21.8M-$50.0M—
Financing cash flow $113.0K$372.0K$85.0M$70.4M$78.5M—

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-110693.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Total equity
  • Goodwill
Total equity, Goodwill by fiscal year, in US dollars The same figures are in the table below this chart. -50M 0 50M 100M 150M Total equity, FY2020: -20.3M Total equity, FY2021: -47.4M Total equity, FY2022: 95.4M Total equity, FY2023: 124.7M Total equity, FY2024: 81.8M Total equity, FY2025: 53.1M FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2020FY2021FY2022FY2023FY2024FY2025
Total equity -$20.3M -$47.4M $95.4M $124.7M $81.8M $53.1M
Goodwill — — — — — —

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Results announced Item 2.02
  • Other event Item 8.01
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02
  • Regulation FD disclosure Item 7.01

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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